Answering the most common questions people are asking about this market.
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Since the real estate market is so volatile, most people have a lot of questions. Are you one of those people? I have been getting a lot of questions lately, so I’m here to address the top three:
1. Is the housing market going to crash? People have been wondering this for a while now, but I do not believe the market is going to crash anytime soon. Inventory is down, which is making it harder for people to find homes. However, demand is high, which keeps prices up as well. Therefore, the housing market won’t crash this year.
2. When will the market crash? Again, many people are wondering when this will happen, but I do not believe it will this year. The number of investors in the market has gone up by 18%, so there are experts that believe the market will go up in value. There may be a problem with supply and demand, but the biggest thing is that many people are looking for ways to invest their money that are better than the stock market or a savings account.
"There aren’t enough homes for the demand, which is why the market is a little out of control."
3. Why is the housing market so out of control? Homeowners have gained a lot of equity in the last few years as home prices have skyrocketed. Plus, they either bought or refinanced when interest rates were low, so they’re holding onto their low payments. Plus, there has been a building shortage, as there hasn’t been a surge of new construction since 2010. There aren’t enough homes for the demand, which is why the market is a little out of control.
Those are the three most common questions I have been getting. If you have any other questions, feel free to reach out to me by phone call, text, or email. I look forward to speaking with you soon!
